$240,000
●
House -
Off Market
20229 SPRUCE AVENUE
LEWES, DE 19958
3 Beds
2 Baths
1,600 Ft²
$1,258
Est. Monthly
11.10%
Cap Rate
About This Property
Opportunity awaits at 20229 Spruce Ave in Lewes, DE! This
3-bedroom, 2-bathroom home offers a unique layout with expanded
living space, as modified manufactured home that has been added
onto, doubling its square footage. The home features a spacious
living room, family room, kitchen dining area, a cedar closet, and
a enclosed porch, providing plenty of room for relaxation and
entertaining. A standout feature of this property is the detached
2-car garage measuring 24x32, offering additional storage or
workspace. Located in a prime area with no land lease-you own the
land-this home presents an excellent opportunity for a primary
residence, vacation retreat, or investment property. Conveniently
situated just minutes from the beaches, shopping, and dining, this
property is ready for your vision. Being sold as is. Don't miss
this chance to make it your own!
Unit Size
1,600 Ft²
Days on Market
139 days
Land Size
0.32 acres
Price per sqft
$156
Property Type
House
Property Taxes
$32
HOA Dues
-
Year Built
-
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 12 months ago (Bright MLS #DESU2081518)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 9, 2025 | Sold | ||
| Sold | |||
| Jul 28, 2025 | In contract | - | |
| In contract | |||
| Jul 9, 2025 | Price Decreased |
$249,500
↓ $7K
(2.5%) | |
| Price Decreased | |||
| Apr 23, 2025 | Listed by Coldwell Banker Premier - Lewes | $256,000 | |
| Listed by Coldwell Banker Premier - Lewes | |||
| Mar 26, 2025 | Listed by Coldwell Banker Premier - Lewes | $256,000 | |
| Listed by Coldwell Banker Premier - Lewes | |||
| | |||
|
Opportunity awaits at 20229 Spruce Ave in Lewes, DE! This 3-bedroom, 2-bathroom home offers a unique layout with expanded living space, as modified manufactured home that has been added onto, doubling its square footage. The home features a spacious living room, family room, kitchen dining area, and a enclosed porch, providing plenty of room for relaxation and entertaining. A standout feature of this property is the detached 2-car garage, offering additional storage or workspace. Located in a prime area with no land lease—you own the land—this home presents an excellent opportunity for a primary residence, vacation retreat, or investment property. Conveniently situated just minutes from the beaches, shopping, and dining, this property is ready for your vision. Being sold as is. Don’t miss this chance to make it your own!
| |||
Property Highlights
Garage
Air Conditioning
Fireplace
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
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Listed On
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Closing Price
Sold On
Sold On
HOA + Taxes
About Sussex
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Listed by: Julie Gritton
Coldwell Banker Premier - Lewes
Last Updated: 10 hours ago
Data Source: Bright MLS , MLS# DESU2081518
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by BRIGHT through a licensing agreement. Listing information is from various brokers who participate in the Bright MLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2026 Bright MLS, Inc.
Coldwell Banker Premier - Lewes
Last Updated: 10 hours ago
Data Source: Bright MLS , MLS# DESU2081518
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